CreditAccess Grameen's Stock Hits 52-Week Low Amidst Bearish Trend and Pandemic Impact
CreditAccess Grameen, a leading finance company in the non-banking financial sector, has recently hit a 52-week low on October 21, 2024. The stock has been underperforming the sector by -1.76% and has been on a downward trend for the past two days, with a fall of -3.21% in returns during this period. The stock touched an intraday low of Rs 986.5, a decrease of -3.91%.
According to MarketsMOJO, a leading stock analysis platform, the stock call for CreditAccess Grameen is 'Hold'. The company's stock has been trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a bearish trend.
In comparison to the Sensex performance of 24.25%, CreditAccess Grameen's 1-year performance has been -27.35%. This could be attributed to the current market conditions and the impact of the ongoing pandemic on the finance industry.
Despite the recent dip in stock price, CreditAccess Grameen remains a midcap company with a strong presence in the NBFC sector. It provides financial services to the underprivileged and has a wide reach in rural areas. Investors are advised to keep a close watch on the company's performance and make informed decisions.
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